Texas Property Values Up!

AUSTIN (Austin American-Statesman) – The state comptroller’s estimate of statewide property values showed an increase from $1.67 trillion in 2010 to $1.69 trillion in 2011 — a 1.3 percent difference.

According to the Austin American-Statesman, state budget writers had expected property values to drop 1 percent last year.

Property values affect how much funding schools receive, and although Joe Wisnoski of Moak Casey & Associates, a school financing consulting firm, said the increase will likely make “very, very little difference in the bottom line of school districts,” others say it could still be a positive sign for Texas.

“We’re certainly above the trend line across the board, but it’s still early,” said Dale Craymer, president of the business-backed Texas Taxpayers and Research Association. “If current trends hold, we will be in relatively good shape.”